he Mayyil and Kayaralam Primary Credit Societies (Aikya Nanaya Sangham), formed in the Nineteen Forties were altogether transformed as Mayyil Panchayath Service Co Operative Society and registered as C-343 on 2-7-1970 and started functioning. This society was later converted as Mayyil Panchayath Service Co Operative Bank and then name changed as Mayyil Service Co Operative Bank. The bank started functioning as on 1-7-1970 with 802 A Class members with a paid up share capital of Rs 27111 and a working capital of Rs 101450 .The bank has 16925 A class members with a paid up share capital of Rs 1 crore and 12 lakhs and a working capital of Rs 80 crores as on 31-10-2010